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BankVIC 12 Months Regular Income review

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You could earn an extra income from your own savings with BankVic’s unique term deposit plan.

The higher rates found with a term deposit still apply with the 12 Months Regular Income account, except you can choose to collect payment from them on a regular basis. This is a specialised savings account with the benefit of a fixed interest rate for one year, and the opportunity to add to your account throughout the term.

Up to 1.1% p.a.

Interest rate

12 months interest rate

$5,000

Minimum opening deposit

$0

Account keeping fee

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Details

Product NameBankVIC 12 Months Regular Income
12 month interest rate1.10%
Minimum Opening Deposit$5,000
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

Interest rates from 1.1% p.a.

If you invest from $5,000, the starting interest rate is 1.1% p.a. This is a term deposit of one year.

How is my interest calculated and paid?

The interest is calculated on your daily balance in the account. You can choose fortnightly, monthly, quarterly or yearly interest payments into a separate account, or allow it to be compounded with the balance at the end of the year.

Launch term deposit calculator


How to apply

With BankVic you can apply for the 12 Months Regular Income term deposit account by calling or stopping by your local branch. You are also able to fill in an online application.

Eligibility

Before you get started, there are some eligibility requirements that you should become familiar with:

  • Minimum age. All applicants must confirm that they are at least 18 years of age before being able to continue with the application.
  • Residency requirements. BankVic and their products are only open to Australian residents and citizens.

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